Rolling Stock Cables Market Analysis

Global Rolling Stock Cables Market Overview

Rolling Stock Cables Market Size was valued at USD 4.1 Billion in 2022. The Rolling Stock Cables market industry is projected to grow from USD 4.25 Billion in 2023 to USD 5.64 Billion by 2032, exhibiting a compound annual growth rate (CAGR) of 3.60% during the forecast period (2023 - 2032). Technological development and progress, increasing its use in downstream applications are the key market drivers accelerating market expansion.

Source: Primary Research, Secondary Research, MRFR Database and Analyst Review

Rolling Stock Cables Market Trends

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  Ongoing technological progress is driving the market growth

  
  

Market CAGR for rolling stock cables is being driven by the ongoing technological progress. Any vehicle that can travel on rails and roads is referred to as rolling stock in the railway transportation sector. Both powered vehicles like locomotives and non-powered vehicles like freight wagons, passenger coaches, and others are included. The use of autonomous rolling stock is becoming more prevalent at the moment. Trains that operate or function without a driver include automated trains and driverless trains, for instance. They run automatically, are watched over, or are managed from the control station.

Additionally, it’s regarded as one of the most economical ways to carry people across large distances, as well as heavy or bulky items. The carrying capacity is greater than that of other modes of transportation, additionally, it is easy to adjust to the particular requirements of the user. Due to the wide range of industries it can be applied to, including oil and gas, the automotive and mining sectors, where tank trucks are used to transport a variety of goods, including industrial chemicals, gasoline, and diesel. These rolling stock and related infrastructure have been in great demand in recent years as people's preferences for rail travel have increased.

The increased demand for reliable, secure, and effective transportation systems has a big impact on the expansion of the global economy. The demand for railroads has increased as a result of the perception that rail travel is the safest and most cost-effective means of transportation. The most recent trains have cameras, sensors, and communication equipment on board. Furthermore, the majority of these places have subterranean or ground-level trains that are heavily guarded by walls or gates to deter trespassing, which fuels the market's expansion. Additionally, based on the level of automation, modern, advanced trains use about 30% less energy than older models because of improved traction, braking, and acceleration systems.

For instance, Road traffic injuries, which account for 1.25 million deaths annually due to accidents on the road, are the biggest cause of mortality among persons between the ages of 15 and 29, according to a fact sheet from the World Health Organization (WHO). Additionally, low- and middle-income nations account for 90% of all global road fatalities despite owning just 54% of the world's vehicles. Thus, result in driving the Rolling Stock Cables market revenue.

Rolling Stock Cables Market Segment Insights:                           

Rolling Stock Cables Type Insights

The Rolling Stock Cables Market segmentation, based on type includes Standard Wall, Medium Wall, and Thin Wall. The thin wall segment dominated the market. At higher voltage levels, thin wall cable performs electrically better than standard cable; however this cannot be true of its mechanical qualities, which are inferior to those of medium wall cable. It has thinner conductors than typical wall cables, which can reduce weight without sacrificing electrical quality. It also offers greater flexibility, making it easier to handle at installation locations.

Rolling Stock Cables Application Insights

The Rolling Stock Cables Market segmentation, based on Application, includes Subway, Train, and Others. The subway category generated the most income. In subway systems, electricity from the third rail—which is transformed into DC at contact shoes at each axle—is transported by rolling stock cables. Rolling stock cables enable the running of several trains, with low voltage drop between substations and locomotives ensuring uninterrupted service even during peak travel times.

Figure1: Rolling Stock Cables Market, by Application, 2022 & 2032 (USD Billion)

Source: Primary Research, Secondary Research, MRFR Database and Analyst Review

Rolling Stock Cables Regional Insights

By region, the study provides the market insights into North America, Europe, Asia-Pacific and Rest of the World. The North American Rolling Stock Cables market area will dominate this market, due to significant investment in rail infrastructure and the expansion of the freight transportation sector. Some of the key nations in this region whose demand for passenger transportation services has grown throughout time include the U.S., Canada, Mexico, Brazil, Argentina, etc.

Further, the major countries studied in the market report are The US, German, France, the UK, Canada, Italy, Spain, India, Australia, South Korea, China, Japan, and Brazil.

Figure2: ROLLING STOCK CABLES MARKET SHARE BY REGION 2022 (USD Billion)

Source: Primary Research, Secondary Research, MRFR Database and Analyst Review

Europe Rolling Stock Cables market represents the second-largest market share because of an increase in demand for electric locomotives; particularly in Germany, Siemens AG introduced the "Ion" series of clean energy trains using rail-bound AC technology. Further, the German Rolling Stock Cables market held a dominant market share, and the UK Rolling Stock Cables market was the European region's fastest-growing market.

The Asia-Pacific Rolling Stock Cables Market is anticipated to see the fastest CAGR between 2023 and 2032. This is due to a growth in rail investments by nations that are key buyers of electric locomotives, such as China, India, Malaysia, Thailand, and South Korea. Moreover, China’s Rolling Stock Cables market held a dominant market share, and the Indian Rolling Stock Cables market was the Asia-Pacific region's fastest-growing market.

Rolling Stock Cables Key Market Players & Competitive Insights

Leading market players are putting a lot of money on R&D to broaden their product ranges, which will help the market for rolling stock cables grow even more. Additionally, market participants are engaging in a range of strategic initiatives to increase their worldwide reach, with important market developments such as the introduction of new products, contracts, mergers and acquisitions, increased investments, and cooperation with other businesses. to grow and endure in an increasingly competitive and challenging market environment, Rolling Stock Cables industry must provide reasonably priced goods.

One of the main business strategies employed by manufacturers is to produce locally to reduce operational expenses in the global Rolling Stock Cables industry to develop market sector and provide benefits to customers. In recent years, the Rolling Stock Cables industry has provided the transportation sector with some of the most significant benefits. Major players in the Rolling Stock Cables market, including Caledonian Cables, PRYSMIAN GROUP, Eugania Rail Pacific, Electric Fever, NEXANS, ATL Technology, Prysmian, Tratos, Hengfei Cable, Siechem, and others, invest in operations for research and development in an effort to improve market demand.

Prysmian S.p.A. is a global corporation with its headquarters in Milan that specializes in the creation of electrical cable for use in the telecom, energy, and optical fiber industries. Prysmian has 23 plants in North America, 48 in Europe, 13 in LATAM, 7 in the meat industry, and 13 in Asia. It is the market leader for making cables for wind farms. The business is included in the FTSE MIB index and is traded on the Milan Stock Exchange. Prysmian intends to invest about EUR 450 million by 2022 in order to achieve net-zero CO2 emissions for the Group and enhance the sustainability of its supply chain.

Caledonian Cables Ltd. is a maker of electric cables, which has received ISO 9001 certification. Eighty percent of the products made globally by the Caledonian Cable Group are exported to more than 60 different nations. Their area of expertise is the production of several cables. Armoured, non-armoured, underwater, and overhead cables are made in accordance with international quality requirements, or they can be made of composite material per the customer's specifications and, if necessary, with the addition of other services. In 2019, EDPR and ENGIE formed OW by combining their offshore wind project pipeline and assets. At that time, the business had 1.5 GW under construction and 4.0 GW in development.

Key Companies in the Rolling Stock Cables market include

• Caledonian Cables


• PRYSMIAN GROUP


• Eugania Rail Pacific


• Electric Fever


• NEXANS


• ATL Technology


• Prysmian


• Tratos


• Hengfei Cable


• Siechem

Rolling Stock Cables Industry Developments

March 2021: Nexans strengthened its long-standing cooperation along RATP (the state-owned operator of the Paris public transportation networks) by gaining a two-year contract to offer specialist railway cables and logistical services to boost fire safety.

December 2020: Hitachi Cable America (HCA), a top producer of Premise, Fiber Optic, and Specialty cables, has added a new cooperation with Power Experts Group in Canada.

July 2020: Leoni, a global provider of solutions for power and data management in the automotive, railroad, and other industries, has developed two new cables. Leoni is now the first cable maker to release these cables on the market in the entire world.

Rolling Stock Cables Market Segmentation

Rolling Stock Cables Type Outlook

• Standard Wall


• Medium Wall


• Thin Wall

Rolling Stock Cables Application Outlook

• Subway


• Train


• Others

Rolling Stock Cables Regional Outlook

• North America
  
  
  
  • US
  
  
  • Canada
  
  
  
  


• Europe
  
  
  
  • Germany
  
  
  • France
  
  
  • UK
  
  
  • Italy
  
  
  • Spain
  
  
  • Rest of Europe
  
  
  
  


• Asia-Pacific
  
  
  
  • China
  
  
  • Japan
  
  
  • India
  
  
  • Australia
  
  
  • South Korea
  
  
  • Australia
  
  
  • Rest of Asia-Pacific
  
  
  
  


• Rest of the World
  
  
  
  • Middle East
  
  
  • Africa
  
  
  • Latin America